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Maximize an estate. Minimize the wait. Eliminate the hassle.

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Presentation on theme: "Maximize an estate. Minimize the wait. Eliminate the hassle."— Presentation transcript:

1 Maximize an estate. Minimize the wait. Eliminate the hassle.
The Estate Maximizer Single Payment Whole Life Insurance

2 Estate Maximizer A Single Payment Whole Life Insurance Contract1
Issued by: Liberty Life Assurance Company of Boston, Member Liberty Mutual Group Home office Boston, MA In NY, form PI-PSP-9411-NY. Not available in KY and NJ.

3 Target Markets Conservative investors age 60-85, planning to leave money to heirs. People with large amounts of cash in (CD’s, Money Markets, Savings, etc.) Annuity contract holders Pre-1988 SPWL policyholders Non-performing UL policyholders Minimum distributions from qualified plans

4 Desires of Seniors Leave a living memory (know that they are not forgotten) Leave the next generation better off than they were See that their grandchildren have excellent opportunities See that their favorite charities continue to grow

5 But…They Still Have Needs
Not to burden their children To be cared for properly To access funds in case of an emergency To feel like they can still look after themselves

6 They Tend to… Be conservative in nature Dislike lengthy processes
Dislike excessive fees or charges

7 They Want… Honesty Integrity
To know that their best interest are being considered Flexibility

8 So let’s look at some real life cases
The following are a few actual Estate Maximizer cases which have been placed in the last couple of months. They represent real scenarios of today’s senior investor.

9 Male Age 70 $50,000 in VA Worth $35,000 Presently

10 Female Age 65 $100,000 in Fixed Annuity $70,000 Cost Basis 28% Tax Bracket
$50,000 into EMax Hold out $8,400 to cover taxes $41,600 net into EMax Buys $80,317 of DB Gets $72,285 of ADB In 5 years, CV of EMax worth $45,930 Still have $80,317 of Tax Free DB $50,000 into 5 year fixed annuity In 5 years, FA worth $62,308 Only $12,308 will be gain versus $30,000 before split Total DB is $142,625, equal to an 8.5% ROI

11 Female Age 83 $179,000 in CD’s She wanted to leave as much money as possible to her loved ones Wanted to retain control for access purposes Full $179,000 in EMax Bought $234,436 in DB Gave her $210,992 in ADB access 3 Stand Outs At 83, Advisor was able to get life coverage Since client had complete physical in previous 6 months, no para medical was needed, only APS Wasn’t underwritten in 10 minutes, but the process was simple for the results gained!

12 Product Benefits For your clients: Safety – 100% Principal Guarantee
Access to cash Life Insurance death benefit – more to heirs For you the Advisor: 10 minute jet underwriting1 Control of underwriting is in your hands, not the company’s Knowledgeable back office support Weekly commission payments Some restrictions apply

13 Safety Backed by the full strength of Liberty Mutual
Guaranteed return of principal1 Guaranteed account values Guaranteed initial death benefit Guaranteed to endow at age 100 30 day free look Barring loans or withdrawals. Not available in NY. Gross 5% in non-NY states and 4% in NY. 10 Day free look in NY.

14 Attractive Returns Premium earns interest immediately
Renewal rate declared on each anniversary and locked for the next contract year Accumulations grow tax deferred.

15 Access to Cash Partial withdrawals up to the greater of contract earnings or 10% of accumulation value Low cost loans Interest 4% charged; 4% credited Principal 6% charged; 4% credited Extended Care Benefit1 Qualified medical stays - 45 out of any continuous 60 day period Insured or insured’s spouse Withdrawal charges waived Not available in SC or NY

16 Accelerated Death Benefit1
Up to 90% of death benefit (max $250,000) Payable while alive if terminally ill or chronically ill Chronically ill defined as unable to complete 2 of 6 ADL’s Terminally ill, less than 24 months to live – insured only Accelerated benefits not taxable under current law Free Riders. May be different by state.

17 Life Insurance Death Benefit
Immediate increase in estate value – more to heirs Passes income tax-free under current tax law Estate tax-free if set up correctly – please consult with a tax advisor.

18 10 Minute Jet Underwriting
Eligibility Stay within min and max premium guidelines “NO” answers to all parts of question 9 MIB inquiry does not prompt further investigation

19 10 Minute Jet Underwriting
Normal underwriting applies if: Premium exceeds jet issue limits Any “YES” to question 9 or if MIB prompts further investigation. Normal underwriting in most cases does include blood and urine etc. It requires medical records review.

20 10 Minute Jet Underwriting
Minimum Premium = $10,000 Maximum Premium = Age Max* 45-59 $50,000 60-64 $65,000 65-80 81-85 $100,000 $25,000 Larger amounts available with normal underwriting.

21 10 Minute Jet Underwriting
“NO” answers to question 9. 9. Has the insured been: A. Hospitalized or surgically treated within the last five years for heart disease or heart failure? Yes  No B. Treated within the last 5 years for cancer? C. Diagnosed with or treated within the last 10 years by a member of the medical profession for: heart attack, stroke, mini-stroke, vascular and circulatory disease, Alzheimer’s disease, dementia, or abnormal chest X ray? D. Diagnosed with or treated within the last 2 years for a hip fracture? E. Declined, refused or turned down for life insurance?

22 It’s as Easy as 1) Complete the Application for Life Insurance and the Signature Page. Be sure to write in your Agency name, telephone number and fax number 2) Fax the white copies in the following order to (It is not necessary to attach a cover sheet or call ahead) A) Application for Life Insurance B) Signature Page 3) A Liberty representative will call you within 10 minutes to let you know if the policy can be “Instant Approved.” However, if you do not hear from us after 15 minutes, please call our Service Team at

23 Things to Know Issue ages 0-85 (age last birthday)
Issue Classes: Standard and Class A 2nd to Die Option available Modified Endowments (MEC) – taxes and penalties may apply for loans or withdrawals before 59½. 7 year surrender period Ages Year 1 2 3 4 5 6 7 0-80 % of Single Premium 7% 6% 5% 4% 3% 2% 81-85

24 The Choice is Yours (Illustrative Results After One Year) Assumes $30,000 principal, 2.0% net interest, 33% tax bracket Taxable Tax-Deferred Income Tax-Free1 Principal $30,000 Value After One Year $30,600 Current Taxes $198 $0 After Tax Value $30,402 Deferred Taxes to Heirs After Tax Value to Heirs Total Benefits to Heirs $57,9212 Additional Benefits to Heirs $27,321 Account value grows tax-deferred. Death benefit passes income tax-free Initial death benefit for a female age 65

25 About Liberty Liberty Mutual Group1 $56 billion in consolidated assets
Nation’s largest writer of workers compensation 6th largest property & casualty insurer A (Excellent) AM Best A (Strong) Standard & Poors Liberty Life1 A wholly owned subsidiary of Liberty Mutual Group Leading writer of Life Insurance through banks Top ten writer of Structured Settlement Annuities A- (Excellent) AM Best As of 12/31/2002

26 Contact Information CPS Ron Viola Insurance PO Box 6250 Los Osos, CA Tel Paul Irving – ext. 19 Internet

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